Wells Fargo & Company Issues Pessimistic Forecast for Thermo Fisher Scientific (NYSE:TMO) Stock Price

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) had its price objective lowered by research analysts at Wells Fargo & Company from $680.00 to $580.00 in a report released on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the medical research company's stock. Wells Fargo & Company's price objective suggests a potential upside of 33.59% from the stock's current price.

A number of other analysts have also recently weighed in on the stock. Barclays reduced their target price on shares of Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 target price for the company in a report on Friday, January 10th. Morgan Stanley boosted their price target on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Raymond James reiterated an "outperform" rating and set a $667.00 price objective (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Finally, Scotiabank raised their target price on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a "sector perform" rating in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $642.67.

Thermo Fisher Scientific Price Performance

NYSE:TMO traded up $12.32 during midday trading on Thursday, hitting $434.17. 3,653,183 shares of the stock were exchanged, compared to its average volume of 1,725,044. The business has a 50-day moving average price of $495.35 and a two-hundred day moving average price of $531.39. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $163.90 billion, a price-to-earnings ratio of 26.27, a P/E/G ratio of 2.99 and a beta of 0.86. Thermo Fisher Scientific has a one year low of $409.85 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Sell-side analysts predict that Thermo Fisher Scientific will post 23.28 EPS for the current year.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the completion of the sale, the chief executive officer now owns 115,174 shares in the company, valued at $59,506,950.58. This represents a 7.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $175,677.00. Following the transaction, the executive vice president now owns 16,363 shares of the company's stock, valued at approximately $9,582,009.17. This trade represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,900 shares of company stock worth $13,106,062. 0.34% of the stock is owned by insiders.

Hedge Funds Weigh In On Thermo Fisher Scientific

A number of institutional investors and hedge funds have recently bought and sold shares of TMO. Howard Capital Management Group LLC increased its stake in Thermo Fisher Scientific by 0.5% during the third quarter. Howard Capital Management Group LLC now owns 54,575 shares of the medical research company's stock valued at $33,759,000 after acquiring an additional 286 shares during the period. Principal Financial Group Inc. increased its position in shares of Thermo Fisher Scientific by 22.1% during the third quarter. Principal Financial Group Inc. now owns 1,247,838 shares of the medical research company's stock valued at $771,876,000 after purchasing an additional 225,568 shares during the period. M&T Bank Corp lifted its position in Thermo Fisher Scientific by 4.2% in the third quarter. M&T Bank Corp now owns 113,347 shares of the medical research company's stock worth $70,113,000 after purchasing an additional 4,584 shares during the period. Virtu Financial LLC acquired a new stake in Thermo Fisher Scientific during the third quarter worth $638,000. Finally, Anchor Investment Management LLC raised its stake in shares of Thermo Fisher Scientific by 1.7% in the 3rd quarter. Anchor Investment Management LLC now owns 11,366 shares of the medical research company's stock valued at $7,031,000 after buying an additional 195 shares in the last quarter. Institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.